Touch Bionics, the prosthetic hand pioneer, has said its revenues rose by 10 per cent last year to hit £13.6million.
The Livingston-based group said growth had driven by the continued success of its revolutionary i-limb, particularly in its biggest market the US.
The company has recently introduced a prosthetic flexible wrist for the i-limb, together with new versions of the biosim and my i-limb mobile apps, which enable clinicians and patients to programme an i-limb via a mobile device. These products, along with Touch Bionics' new direct sales strategy in certain key markets in Europe, are expected to make an important contribution to the company's continued growth in 2015.
The company reported a narrowing of losses from £588,000 to £93,684 last May and said it expected to move into profit in 2014.
A spokesman commented: "The company expects to be EBITDA positive in 2014 as it was in 2013, but at the bottom line level, costs associated with the IPO will mean that there will be an overall loss in 2014."
Ian Stevens, chief executive, said: "We are pleased with our 2014 performance and are proud that to-date more than 4,000 patients have benefitted from our technologies, which can restore significant function and self-esteem following the trauma of upper limb loss."
He went on: "We are looking forward to continued growth in 2015, as a result of our expanded product offering and our direct sales approach in Europe, which is designed to build stronger and closer relationships with prosthetists, enabling them to provide better patient care."
Touch Bionics was the first company to develop an electrically powered prosthetic hand with five independently powered fingers, and its products include passive silicone prostheses that closely match the natural appearance of the wearer.
A spin-out from the National Health Service, Touch Bionics was founded by inventor David Gow and is funded and supported by Archangel Informal Investment and Scottish Enterprise.
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